Who wants a car?: Car sales further tumble!

The recession is hurting the car sales deeply. We thought the last data was worst but the recent data is more bad!

Deliveries at VW, Europe’s biggest carmaker, dropped about 20 %, compared with 2.9 % in December, while BMW had a 24 % decline and similarly Mercedes suffered a fall of 31 %.

Meanwhile Toyota says the forecast for its operating loss might be 3 times its previous estimate. The company expects a full-year net loss of 350 billion yen. This will be first loss making year in the history of Toyota.

“I’m expecting a big loss for next year, too.” said Takashi Aoki

The car industry’s sales have dropped to its lowest since the early 1980s. Famed companies like GM and Chrysler are working to avert bankruptcy with $17.4 billion in bail-out loans and face a Feb. 17 deadline to prove they’re viable.

Meanwhile, FIA continue to work towards bringing the costs of running a F1 team down. The aim is to reduce spending to around $65m a year.

The intention is to achieve this by carefully going through every aspect of the Formula 1 cars and examining which parts should be performance-related and which can be standardised with no harm being done to the spectacle of the sport.